Outgoing State Secretary Struycken, in a letter indicated to the House that the Temporary Act on Transparency of Turboliquidation will be extended by 2 years (until 15 November 2027) and that, in the meantime, legislation will be prepared that will make this temporary regulation permanent.
We describe the main features of the temporary law in our article New turboliquidation rules.
The reason for the extension of the temporary act is a research report showing that the financial statements required by the temporary act in turboliquidations contribute to more transparency in turboliquidations and improve the legal position of creditors. Thus, the temporary law meets its objectives.
The temporary law appears to contribute to a lesser extent to the equally intended prevention of abuse of turboliquidation. But it also appears unclear what the extent and frequency of turboliquidation fraud is. The researchers recommend considering whether the enforcement mechanism (civil and public) can be improved.